Hostplus and Club Super to merge
Hostplus and Club Super have today confirmed that the funds have signed a Successor Fund Transfer Deed, a key milestone towards the merger of the two funds with a target date of 1 November 2019.
As industry funds with a common heritage, and a focus on serving the hospitality, tourism, recreation and sporting sectors, both funds believe there is a strong alignment between the organisations and that their combined strengths can provide for greater future outcomes for their members.
David Elia, Chief Executive Officer of Hostplus said the merge was a significant, and positive development for all involved.
“We embrace this opportunity to welcome Club Super members, employers and key staff into the Hostplus family.”
“It’s a proud moment for both of our organisations and the decision to merge has not been made lightly. We will continue to focus on ensuring our merged funds continue to deliver high-quality products and services, investment performance and retirement outcomes for our 1.2 million members and their families” he said.
According the Club Super Chair Sharron Caddie, the merger of the funds serves as a practical example and demonstration that member best interests are at the forefront of decision making by both boards.
“In executing the Successor Fund Transfer Deed, we are actively helping to bring enhanced services and benefits to our members and employers, while continuing to recognise and support the community and sporting clubs they work so tirelessly in” she said.
Both members and employers will shortly receive a detailed overview of the merge process and next steps and actions to successfully complete the merger.
